South Korea and the United States are discussing when and how to stage their annual summertime military exercise, the defense ministry said Monday, amid concerns the maneuvers could affect efforts to resume talks with North Korea. The two sides usually hold the summertime drill in August. Sources said this year's exercise is expected to kick off around Aug. 10 for a three-week run and take the form of a computer-simulated command post exercise (CPX) without outdoor drills. Whether and how to g

Defense Minister Suh Wook called for speeding up South Korea's envisioned takeover of wartime operational control (OPCON) of its forces from the United States after new US Forces Korea Commander Gen. Paul LaCamera took office last week, his office said Monday. During a meeting to check on progress in efforts to retake OPCON, Suh "called for various consultations between top USFK officials, including its new commander, and the defense and military authorities to expedite the OPCON transfer

South Korean auto parts maker Mando Corp. said Monday it has received an "A" environmental, social and governance (ESG) rating form global index provider Morgan Stanley Capital International (MSCI) for its environmentally friendly growth value. Mando said the company is the first among South Korean auto and auto parts manufacturers to have been awarded such an ESG rating by MSCI. MSCI grants an A ESG rating to companies with a mixed or unexceptional track record of managing the most

Sales of imported vehicles in South Korea fell 4.2 percent in June from a year earlier amid the extended COVID-19 pandemic, an industry association said Monday. The number of newly registered foreign vehicles fell to 26,191 units last month from 27,350 a year ago as the prolonged pandemic weighs on consumer demand, the Korea Automobile Importers & Distributors Association (KAIDA) said in a statement. The three bestselling models last month were Volkswagen's T-Roc 2.0 TDI SUV, Mercedes-Benz

Ex-Prime Minister Lee Nak-yon officially launched his presidential bid Monday, pledging to recover the country's dwindling middle class. Lee, also a former five-term lawmaker and ex-chief of the ruling Democratic Party, announced that he will join the race to win the party's ticket to run in the March 9 presidential election. With the slogan of "a country that safeguards my life," Lee focused his campaign message on his pledges to relieve the country's growing economic disparity and

South Korea's daily new virus cases stayed in the 700s for the third day in a row Monday, as health authorities warned against the spread of the more contagious delta coronavirus variant. The country reported 711 more COVID-19 cases, including 644 local infections, raising the total caseload to 160,795, the Korea Disease Control and Prevention Agency (KDCA) said. The latest figure is down from 826 on Friday, 794 on Saturday and 743 on Sunday, and a nearly six-month high due to the sharp spike

South Korean stocks opened higher Monday, led by gains in tech and bio shares. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.16 points, or 0.31 percent, to trade at 3,291.94 in the first 15 minutes of trading. Stocks got off to a solid start on speculations of improved corporate earnings. Tech large caps Samsung Electronics and LG Electronics are scheduled to report their quarterly earnings guidance this week. Concerns about the recent spread of the new coronavirus and its

Samsung Electronics Co. said Monday it has signed a partnership with Hanwha Q Cells Co., a local solar power cells and modules producer, to develop home energy solutions. The two sides agreed to work together in establishing "zero energy homes," referring to homes that produce their own power with renewable energy sources to reduce carbon emissions. Their collaboration will be first available in the United States and Europe, where there is high demand for green energy, according to

South Korea's foreign reserves declined in June as the US dollar's strength reduced the value of non-dollar assets, central bank data showed Monday. The nation's foreign reserves came to $454.1 billion as of end-June, down $2.35 billion from the previous month, according to the Bank of Korea (BOK). Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund reserve positions, special drawing rights and gold bullion. The FX reserves decli

World No. 2 Ko Jin-young has found the LPGA winner's circle for the first time in 2021. The South Korean star captured the Volunteers of America Classic at Old American Golf Club in The Colony, Texas, on Sunday (local time), beating Matilda Castren of Finland by one stroke. Ko shot a final round of 69, with four birdies and two bogeys, for the total of 16-under 268 at the par-71 course. This was Ko's first victory in 11th start this year, and her eighth overall. Ko has now recorded a victory

Retail oil prices in South Korea rose for the ninth consecutive week to reach the highest level in nearly three years amid a global oil rally, data showed Sunday. The average gasoline price nationwide was 1,600.9 won ($1.40) per liter in the fifth week of June, edging up 13.5 won from a week earlier, according to the data provided by the state-run Korea National Oil Corp. (KNOC). The gasoline price surpassed the 1,600 won level for the first time since November 2018. Diesel prices also gained

Gyeonggi Province Gov. Lee Jae-myung garnered more support than former Prosecutor General Yoon Seok-youl in the latest poll on prospective presidential contenders released Sunday. In the survey by Global Research, Lee received 44.7 percent of support, while Yoon had 36.7 percent in a hypothetical one-on-one battle. The gap was larger than the poll's margin of error of 3.1 percentage points. It was conducted from last Wednesday to Friday on 1,000 people aged 18 and older and had a 95 percent co

The South Korean baseball club Hanwha Eagles said Sunday they've released their struggling American first baseman Ryon Healy. Healy, a two-time 20-homer man in the majors, batted only .257/.306/.394 with seven home runs and 37 RBIs in 67 games this year, his first season in the Korea Baseball Organization (KBO). Among 54 qualified hitters, Healy ranked 43rd in batting average and 53rd in on-base percentage. Healy signed a one-year deal worth up to $1 million, the maximum amount allowed for a f

SEJONG -- The Green Climate Fund (GCF), the South Korea-based United Nations climate fund aimed at helping poor nations fight global warming, has approved $500 million in funding for new projects and programs, according to Seoul's finance ministry Sunday. During a virtual meeting held from June 28 to July 2, the GCF's board discussed new funding and accreditation proposals. Launched in late 2010, the GCF aims to channel money from industrialized nations to developing countries to help them tac

North Korea has not been cooperating with a United Nations-led global vaccine distribution program, failing to complete necessary paperwork to receive help against the coronavirus pandemic, a report said Sunday. Citing an anonymous source, Voice of America (VOA) reported on talks between North Korea and Gavi, a vaccine alliance that helps run COVAX, an international initiative aimed at global distribution of COVID-19 vaccines. According to the report, North Korea has completed only two of the

Samsung SDI Co.'s electric vehicle (EV) battery business is expected to have turned to operating profit for the first time in the second quarter on strong demand by global automakers, analysts said Sunday. Samsung SDI Co., the battery arm of Samsung Electronics Co., was forecast to have posted 3.4 trillion won ($3 billion) in sales and 252.7 billion won in operating profit in the April-June period, according to the data from 15 local brokerage houses compiled over the past month. Samsung SDI's

South Korea's oceans ministry said Sunday it plans to launch a new platform to provide the latest information on the radiation level in local seas to the public amid growing safety concerns over Tokyo's planned release of contaminated water. "We plan to minimize the public's concerns over the safety of our waters and seafood, and bolster monitoring on the radiation level of the ocean," the Ministry of Oceans and Fisheries said in a statement. In April, the Japanese government said it

Hyundai Motor Group's eco-friendly vehicle sales in South Korea jumped nearly 40 percent in the first half of this year compared with a year earlier on strong demand for hybrid models and new electric vehicles, its sales data showed Sunday. The combined domestic sales of eco-friendly models by the Korean automotive group's two affiliates -- Hyundai Motor Co. and Kia Corp. -- stood at 94,435 units in the January-June period, up from 67,798 units a year ago, according to their sales data. Among

South Korea's daily new virus cases stayed in the 700s for the second day Sunday, while authorities tighten their guard against a virus resurgence in the greater Seoul area. The country reported 743 more COVID-19 cases, including 662 local infections, raising the total caseload to 160,085, the Korea Disease Control and Prevention Agency (KDCA) said. The latest figure is down from 794 on Saturday and 826 on Friday, a nearly six-month high due to the sharp spike in new cases in the Seoul metropo

Seoul has suffered its largest population decline in five years, with the soaring housing prices likely driving people out of the capital city, data showed Sunday. According to figures compiled by the Ministry of Interior and Safety and provided to People Power Party Rep. Tae Young-ho, Seoul had a population of just over 9.56 million as of June. Compared to a year ago, that represented a drop of 154,856, or 1.59 percent. It is the largest annual drop in five years. Seoul had almost 9.99 millio